If you're fascinated by the business world and the numbers that make it work, you may be cut out to be an accountant. Learn how CPA preparation classes and the credential can benefit you.
CPA Exam Preparation: Top 5 Reasons to Pursue It
Although you could become an accountant with an undergraduate degree, it's preferable to become a certified public accountant (CPA). As a CPA, you'd command a higher salary and be qualified for a wider range of jobs. You'd also be allowed to prepare materials for submission to the Securities and Exchange Commission.
Becoming a CPA requires taking CPA Exam courses, then passing the American Institute of Certified Public Accountants examination. Then you'd qualify for certification from your state.
Although lots of reasons justify preparing to become a CPA, here are five:
CPA preparation can be quick.
CPA requirements can take less time than some other types of professional training. In nearly all states, certified public accountants must take 30 semester hours beyond an undergraduate degree. This can be accomplished by completing ten post-graduate courses, which is a lot fewer classes than those required in law or medical school.
The remuneration is attractive.
According to the U.S. Bureau of Labor Statistics, the mean wage for all accountants nationwide is about $67,000 per year. The top ten percent earn more than $100,000 annually.
You salary would depend on the type of accountancy you practice. If you work in tax preparation or bookkeeping, you can expect higher compensation than if you work for local or state government.
The income you can make as a certified accountant makes investing in CPA preparation worthwhile.
Your skills are transferable.
One of the most attractive benefits to being an accountant is that every industry needs you. You could work for the government, commercial businesses, individuals, or nonprofit organizations. Because your skills are transferable, you could easily move among these areas and among industries.
All businesses need to keep books. With this profession, you could choose to manage the records of, say, a museum, a tour firm, or a factory. If you're a Wall Street type, you know that keeping accurate financial records is crucial.
The field is dynamic.
Accounting skills aren't static. The accounting milieu changes, and can do quickly. For example, globalization has led to several new compliance regulations that need to be followed. Every new rule from the SEC requires attention from the accounting community. As an accountant, you'd want to maintain your skills with continuing education. As a CPA, you'd be required to in order to maintain your certification.
You can police the bad guys.
If the corporate scandals of the past several years, the related convictions, and the recession have taught us anything, it's that big business needs monitoring. Every business transaction leaves a trail of numbers, and accountants are the people who know how to interpret them. Forensic Accounting CPA's specialize in auditing books.
Assess your skills. Ask yourself what you're suited for. And remember that CPA preparation can lead to an even more lucrative career.